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Why ADM Q3 Earnings Fell Short

Archer Daniels Midland Co. (NYSE: ADM) reported third-quarter 2015 earnings Tuesday morning. The agribusiness giant posted adjusted diluted earnings per share (EPS) of $0.60 on revenues of $16.57 billion. In the same period a year ago, the company reported EPS of $0.86 on revenues of $18.12 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.70 and $17.77 billion in revenues.

On a GAAP basis, EPS totaled $0.41, which excludes approximately $0.19 of losses on debt extinguishment, $0.04 of gains on asset sales, $0.07 of LIFO inventory credits, $0.10 of charges related to asset impairments and restructurings, and a $0.01 charge to update the estimated annual effective tax rate.

The company did not offer financial...


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